I don't know that I've ever met a 1st gen African LO, but I've met 1st gen LO Russians, Latinas, Brits... and to the extent that African accents are associated with "Nigerian Prince" schemes, note that the overwhelming majority of LOs doing shady things circa 2004-2007 had accents identical to what you would expect my accent to be based on my profile picture, so you certainly shouldn't assume that I'm not shady based on my accent any more than you should assume someone is shady if they have an accent that sounds African.

(Unless you can reinvest the profits into significantly better deals).

You can always recoup that in your tenant buyer fees and profit. 

This isn't typical unless you're running some sort of Non-profit or charity organization. 

If the estimated profit is 30k, is that worth the risk?

And all that conjecture can lead to  a major brain hemorrhage.  

If you are doing a flip, make sure your profit margin is high enough to do it right.

I see this being a major issue long term.

@Richard Sherman I received a profit and loss statement from the previous owner’s realtor, copies of lease agreement but no contact details for tenants just the names on the lease.

He's looking to turn it into a 4br 3bath and possibly turn the basement into a livable space.He offers a promissory note for a payout of either a set interest rate or percentage of the profit, whichever is greater.